830 South Hoover Street

Los Angeles, CA 90057

$2,790,000
Price
6
Beds
10
Baths
8,080 Sq. Ft.
$345 / Sq. Ft.
8,080
Sq. Ft.
$345
per Sq. Ft.

Description

Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above,...Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above, there are three office units, two of which are currently vacant, providing additional opportunities for rental growth. The occupied office unit is leased at $1,650, while the vacant units offer potential rents of $2,000 and $3,000. The residential component includes four apartments: a spacious three-bedroom, two-bathroom unit at $2,000, a studio at $1,400, a one-bedroom at $1,500, and another studio at $1,300. With a total rent potential of $19,590 per month, this property generates a Net Operating Income (NOI) of $176,310 annually, translating to a favorable cap rate of 6.1% and a Gross Rent Multiplier (GRM) of 12.3. Positioned in a prime location with high visibility and foot traffic, this property not only offers strong rental demand but also presents an incredible opportunity for value-add renovations in the vacant units. Whether you're looking to expand your real estate portfolio or step into a lucrative investment, 830 S. Hoover Street is a remarkable chance to capitalize on the dynamic local market. Don't miss out; contact us today to schedule a viewing or for more information!

Listing Agents

  1. Michael Yue

    Michael Yue

    Listing Agent

    Compass

    DRE #02083986

    michael.yue@compass.com

    P: (310)-435-2237

  2. Sally Forster Jones

    Sally Forster Jones

    Alternative Listing Agent

    Compass

    DRE #00558939

    sally.jones@compass.com

    P: (310)-579-2200

Property Details for 830 South Hoover Street

Zoning
LAC2
Style
Other
Parcel Number
5141026007
Total Units
10.0
Living Area
8080
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
0
LISTING UPDATED: 10/09/2024 06:30 PM

Property Details for 830 South Hoover Street

StatusActive
MLS #24-445057
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1966
Lot Size0.14 AC / 6,310 SF
CountyLos Angeles County

Building Information for 830 South Hoover Street

Stories2Residences-Year Built1966Building Size-Lot Size0.14 AC / 6,310 SF

Property Information for 830 South Hoover Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Retail
  • View: Yes
  • View Description: City Lights
  • View: City Lights
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $235,080
  • Net Operating Income: $176,310.00
  • Gross Income: $235,080
  • Cap Rate: 6.10%
  • Gross Rent Multiplier: $12.30
  • Actual Rent Total: $19,590.00
  • Total Annual Expense: 58770
Land / Lot Info
Land / Lot Info
  • Land Lease Expiration Year: 2025
  • Lot Acreage: 0.1449
  • Lot Size Square Feet: 6310
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 4
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Central
  • Heating Type: Central
  • Equipment: Other
  • Common Walls: Detached/No Common Walls
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-30-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,180.00
  • Unit Actual Rent: $2,180.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,180.00
  • Unit Actual Rent: $2,180.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,380.00
  • Unit Actual Rent: $2,380.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,650.00
  • Unit Actual Rent: $1,650.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 5
Unit 6 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,000.00
  • Unit Actual Rent: $3,000.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 6
Unit 7 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 7
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 8
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $1,500.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 9
Unit 10 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,300.00
  • Unit Actual Rent: $1,300.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 10
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $524,322.00
  • Assessed Improvement Percent: 36.33
  • Assessed Land Value: $919,040.00
  • Assessed Land Percent: 63.67
  • Assessed Total Value: $1,443,362.00

Property History for 830 South Hoover Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 830 South Hoover Street

Taxable ValueLand$937,420Additions$534,808Total$1,472,228
Tax Record2024$18,653 ($1,554 / month)
Home Facts
Total Finished SqFt8,080 SqFtAbove Grade Finished SqFt8,080 SqFtStories1Lot Size6,308 SqFtStyleOffice BuildingYear Built1966ZoningLAC2CountyLOS ANGELESAPN5141-026-007

Schools near 830 South Hoover Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Hoover Street Elementary School
PublicK to 5

Berendo Middle School
Public6 to 8

Academic Leadership Community School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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830 South Hoover Street is a multi-family home for sale in Los Angeles, CA 90057. This property was listed for sale on September 30, 2024 by Compass, it's currently listed at $2,790,000. It has been on the market for a total of 19 days and was last sold on May 6, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Hoover Street Elementary School, Berendo Middle School and Academic Leadership Community School. 830 South Hoover Street is a 6-bed, 10-bath, 8,080 sqft multi-family home built in 1966.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Michael Yue, DRE #02083986; Compass, Sally Forster Jones, DRE #00558939

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.